2016 (7) TMI 223

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..... at:- Revenue found stock discrepancy, that went against appellant. When the probability is weighed, the appellant failed to prove leading cogent evidence that exports were made out of the foreign materials imported. Physical verification results demonstrated discrepancy of stock which was acknowledges by appellant. Revenue need not prove where the discrepant goods have gone. It is assessee to expl .....

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..... ventory, series of lapses in the stock record was found. There was discrepancy of imported marbles noticed on physical examination. Appellant did not maintain properly. There was diversion of imported material and indigenous material were only exported. Therefore, export of imported goods not being made, there is no question of waiver of redemption fine or penalty. 3. Heard both sides and peru .....

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..... goods. It is not necessary for the Revenue to prove its case with mathematical precision. There is no scientific formula been developed to show probability. When facts and circumstances demonstrate against appellant and onus of proof is discharged by Revenue, burden of proof is shifted to appellant. Revenue found stock discrepancy, that went against appellant. When the probability is weighed, the .....

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..... ds ₹ 93,57,407/-, imposition of redemption fine of ₹ 10 lakhs is considered justified. The adjudication authority had granted option to redeem the goods exercising his discretion. But the fine imposed appears to be without any basis. Therefore interference thereto is warranted and redemption fine imposed is reduced to ₹ 10 lakhs. 7. So far as penalty under three provisions ar .....

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..... tenance of records. On the aforesaid factual matrix we do not interfere with this imposition of penalty. Accordingly, the appellant shall not get relief on this count. 13. In the result, redemption fine is reduced to ₹ 10 lakhs. Penalty is reduced to ₹ 4 lakhs under Section 114 (iii) and penalty of ₹ 2 lakh shall be under section 114 AA and penalty of ₹ 1 lakh shall be .....

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